Oil and gas resources are becoming more challenging and expensive to develop. This challenge can be best demonstrated in the deepwater developments around the world (e.g., Gulf of Mexico, West Africa, and Brazil) where the high cost environment and pressures on cycle time and reservoir complexity have resulted in more reservoir characterization uncertainty being carried over in to the development phase. Operators are seeking more efficient work practices and enhanced analysis techniques to provide greater assurance that reservoir and well performance ranges are fully described and characterized and that risks can be mitigated.